Indiana § 27-1-50.3-11 Authorization to grant grace period for payment of fee; penalty;
sanctions

Indiana Statutes

§ 27-1-50.3-11 — Authorization to grant grace period for payment of fee; penalty; sanctions

Indiana § 27-1-50.3-11

Title 27INSURANCE

Art. 1DEPARTMENT OF INSURANCE

Ch. 50.3Managed Care Assessment Fee

This text of Indiana § 27-1-50.3-11 (Authorization to grant grace period for payment of fee; penalty; sanctions) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 27-1-50.3-11 (2026).

Text

(a)For good cause shown by a managed care organization due to financial or other difficulties, as determined by the office, the office is authorized to grant grace periods, of up to thirty (30) days, for the managed care organization's payment of an installment payment due under this chapter.

(b)If a managed care organization that is liable for an assessment under this chapter fails to make an installment payment by the payment's due date, and no grace period has been granted to the managed care organization for the payment of the installment payment, the managed care organization shall pay a penalty of ten percent (10%) of the amount of the installment payment not paid, plus ten percent (10%) of the portion remaining unpaid on the last day of every thirty

(30)day period thereafter. The

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(a) For good cause shown by a managed
care organization due to financial or other difficulties, as determined
by the office, the office is authorized to grant grace periods, of up to
thirty (30) days, for the managed care organization's payment of an
installment payment due under this chapter.
(b) If a managed care organization that is liable for an assessment
under this chapter fails to make an installment payment by the
payment's due date, and no grace period has been granted to the
managed care organization for the payment of the installment payment,
the managed care organization shall pay a penalty of ten percent (10%)
of the amount of the installment payment not paid, plus ten percent
(10%) of the portion remaining unpaid on the last day of every thirty
(30) day period thereafter. These penalty payments shall be deposited
into the managed care assessment fee holding fund.
(c) If a managed care organization that is liable for an assessment
under this chapter is granted a grace period but fails to make its
installment payment by the end of the grace period, the managed care
organization shall pay a penalty of five percent (5%) of the amount of
the installment payment not paid, plus five percent (5%) of the portion
remaining unpaid on the last day of every thirty (30) day period
thereafter. These penalty payments shall be deposited into the managed
care assessment fee holding fund.
(d) Notwithstanding subsections (b) and (c), with respect to a
managed care organization that has a comprehensive risk contract with
the office under IC 12-15 that fails to make an installment payment not
later than sixty (60) days after the due date or, if applicable, not later
than sixty (60) days after the end of a grace period, the office may
additionally impose a contractual sanction allowed against the managed
care organization, and may terminate the contract with the office.
(e) Notwithstanding subsections (b) through (d), with respect to a
managed care organization that fails to make an installment payment
not later than sixty (60) days after the due date or, if applicable, not
later than sixty (60) days after the end of a grace period, the department
may suspend or revoke, after notice and hearing, the managed care
organization's certificate of authority, license, or other authority to
operate in Indiana.